The jury in the United States District Court for the Southern District of New York has reached a verdict in the trial of Avraham “Avi” Eisenberg, the individual accused of defrauding the decentralized exchange Mango Markets of $110 million.
The jury found Eisenberg guilty of wire fraud, commodities fraud, and commodities manipulation after deliberating for several hours on April 18, following closing arguments presented on April 17.
During the two-week trial, Eisenberg’s defense team argued that his actions did not constitute any criminal activity, but rather a successful and legal trading strategy that resulted in the significant profits. However, prosecutors maintained that Eisenberg’s actions were fraudulent.
The judge presiding over the case, Richard Berman, is scheduled to sentence Eisenberg on July 29. Eisenberg now faces a maximum of 20 years in prison for his actions on Mango Markets in October 2022.
